Market Analysis : The Luggage Market Essay

Market Analysis : The Luggage Market Essay

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Market Analysis
The luggage market all over the world is getting more technologically inclined everyday. As a result, there is the need for every business in the industry to consider technology as a vital component of its products. The market is constantly growing everyday as businessmen and other major travellers all over the world are now becoming technologically savvy.
Besides, the market consists of various products focused on providing just a case to assist travellers and ease their burdens. Little effort has been made to look into the comfort of these travellers as they stand at ports and hotel receptions for hours awaiting their bookings to be made. However, this is seen as an opportunity as Space Case 1 will provide a comfortable seat converting system to afford the owners seats at places thereby combining the conventional travelling ease with the aim of comfort at the same time, an innovation that will leave the market stunned and competitors dazed.
Although, the luggage market is getting competitive with products from Samsonite, Bluesmart, Fugu bags and a host of others, Space Case 1 is set to dominate the market by taking at least seventy percent of the market share by serving children, teenagers, businessmen, politicians and the aged who have been under served by competitors. The warranty and other unique features will further enhance proper penetration and development of the market.
Competition
The main competitors of Space Case 1 are Bluesmart, Samsonite, Andiamo IQ, RIP Zippers, Fugu bags. The major challenge with competitors will be the price of our product. The product will cost each customer between $600 and $800 each for various categories as compared to the price of other products in the market such as Blu...


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...ing countries of the world. In addition to this strategy, the business will adopt the use of retailers in groceries across the globe too but the strategy is mainly built on the direct customer relationship spiced by the proper feedback system.
Promotion
The product targeted at every individual from every walk of life irrespective of age will be designed to reach them through a web based channel, sales outlet and through retailers like groceries. The chair converting system coupled with the ten year warranty and the price discounting system will be emphasized to stimulate and motivate people to buy continuously.
Also, awareness all over the world will be made on electronic media, in schools, offices, organisations and political establishments. In addition, connection will be made with telecommunication networks to contact people all over the world.


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